Belpointe Asset Management LLC Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Belpointe Asset Management LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 12.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,185 shares of the manufacturing equipment provider’s stock after buying an additional 345 shares during the quarter. Belpointe Asset Management LLC’s holdings in Applied Materials were worth $516,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at about $27,000. DSM Capital Partners LLC bought a new stake in Applied Materials during the 4th quarter worth approximately $37,000. First United Bank & Trust purchased a new position in Applied Materials during the fourth quarter valued at approximately $45,000. Tompkins Financial Corp bought a new position in shares of Applied Materials in the fourth quarter worth approximately $49,000. Finally, Highlander Capital Management LLC increased its stake in shares of Applied Materials by 60.0% in the fourth quarter. Highlander Capital Management LLC now owns 320 shares of the manufacturing equipment provider’s stock worth $52,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $223.37 on Thursday. The stock has a market cap of $184.94 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.80 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The stock has a 50 day moving average price of $208.26 and a 200-day moving average price of $185.73. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $225.07.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the firm earned $2.00 earnings per share. Applied Materials’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that Applied Materials, Inc. will post 8.32 EPS for the current year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.72%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMAT shares. Wells Fargo & Company lifted their target price on shares of Applied Materials from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Susquehanna boosted their price objective on Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. increased their target price on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. B. Riley lifted their target price on Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Evercore ISI began coverage on Applied Materials in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price target for the company. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $219.04.

Check Out Our Latest Report on AMAT

Insider Buying and Selling

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the transaction, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the sale, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Applied Materials Company Profile

(Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

Further Reading

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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